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SMM Nickel Market Morning Review

Release time:2014-11-24

 Nov 24, 2014 02:12 GMT   Source:SMM

Tags: nickel prices

 

SHANGHAI, Nov. 24 (SMM) – LME nickel prices overnight opened at USD 16,305/mt last Friday, and climbed to USD 16,491/mt during European trading, but falling back down to USD 16,400/mt after touching USD 16,500/mt. After the PBOC unexpectedly lowered interest rates, LME nickel prices soared to USD 16,640/mt, then hovering between USD 16,380-16,630/mt during US trading, and closing at USD 16,530/mt, up USD 1.22%. Trading volumes increased 1,674 to 6,266 lots, and total positions were down 80 to 205,526 lots. LME nickel inventories grew 1,446 to 394,770 mt.